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For a rational investor it would make sense to bid above "market" price. There are many markets, and those markets have a limited volume of coin to sell. Buying
by nkuttler 12y ago
For a rational investor it would make sense to bid above "market" price. There are many markets, and those markets have a limited volume of coin to sell. Buying 30k coins would have a big effect on the price of any single market.
Bitstamp, which says "world's leading bitcoin exchange" about itself can't sell you 30k coins right now. Oh, and bitcoin exchanges have a history of.. let's call it.. problems.
A rational investor who wants to buy a large volume of coins would certainly bid above "market" price for coins handled by a reputable seller.
- rebel 12y agoYou seem to have misread my post. I didn't say that no one would bid above market price, I stated that they would additionally buy up all the coins on the market below their buying price.
- nkuttler 12y agoAh, you're right. But buying coin from different markets still has risks and takes time (which is money). Of course, it depends on your priorities.
- nitid_name 12y agoWouldn't that risk driving up the market price of bitcoins, which leads to a higher competing bid on the bulk coins?
- rebel 12y agoWell you wouldn't want to do it before the bids are in. However, there was a gap between when bids are placed and when the winner is announced, that would be a good time. edit: Of course, any time after the bids were completed would be a good time. After the auction ends would be just as good for you.